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On 19 June, Optus Finance (Optus) mandated ANZ and Westpac Institutional Bank to arrange a fixed-income investor update, to take place in the week commencing 25 June.

AMP Bank launched its residential mortgage-backed securities (RMBS) transaction, Progress 2018-1, on 19 June. The forthcoming deal has an indicative total volume of A$750 million (US$556.7 million) and is expected to price on or before 22 June.

On 19 June, FlexiGroup revealed plans for a possible New Zealand dollar denominated asset-backed securities (ABS) transaction from its Q Card Trust programme. BNZ and Westpac New Zealand have been mandated to engage institutional investors regarding the potential deal.

Wholesale tier-two transactions from the major banks, at least in public benchmark format, have been few and far between in the Australian market in recent years. This has created a scarcity-of-supply dynamic which, along with recent redemptions, resulted in significant demand for Westpac Banking Corporation (Westpac)’s latest tier-two benchmark.

Scaling up and broadening supply through globally harmonised issuance standards will be a key goal for the international green-bond industry in the coming years, according to market participants at the leading international forum for the sector. Asia’s significance as a source and target of issuance is only set to grow.

Auckland Council (AA/Aa2) launched its NZ$150-200 million (US$103.9-138.6 million) five-year green bond transaction on 18 June. The forthcoming deal is being marketed at 47-55 basis points over swap, with the final margin and interest rate to be set following a bookbuild scheduled to take place on 21 June. ANZ is arranger and lead manager for the transaction.

On 18 June, Genesis Energy (BBB+/S&P) launched a NZ$240 million (US$166.2 million) 30-year subordinated capital bonds transaction. Indicative price guidance for the forthcoming deal is 195-215 basis points over mid-swap, with the final margin expected to be determined on 26 June upon the completion of a bookbuild. The bonds are expected to be rated BB+.

On 18 June, Teachers Mutual Bank (Teachers Mutual) (BBB/Baa1) revealed plans to hold a conference call to update investors regarding a possible three-year domestic transaction. The conference call, to take place on 20 June, will be arranged by National Australia Bank and Westpac Institutional Bank.

The second week of June was highlighted by Westpac Banking Corporation's A$725 million (US$541.1 million) 10-year non-call five-year tier-two transaction and NAB Trust Services's A$200 million low-carbon shared-portfolio floating-rate note deal. In New Zealand, Avanti Finance priced a NZ$200 million (US$138.9 million) residential mortgage-backed securities transaction.

On 15 June, AMP Bank began taking indications of interest for its residential mortgage-backed securities transaction, Progress 2018-1. The deal has an indicative total volume of A$750 million (US$559.7 million) and is expected to launch in the week beginning 18 June.